Score of 98.2/100 qualifies for PaymentCheck Certification
The average time taken for COMCAB (LONDON) LTD to pay invoices has decreased steadily over the past three periods, from 30 days in Sep 2018-Feb 2019 to 11 days in Sep 2020-Feb 2021. The percentage of invoices paid within 30 days has also consistently increased, reaching 100% in the most recent period. This suggests that the company has improved its payment efficiency and is paying invoices more promptly.
The volatility of the company's payment patterns has decreased over the past three periods. This is evident in the decreasing percentage of invoices paid between 31 and 60 days and the increasing percentage of invoices paid within 30 days. This indicates that the company has become more consistent in its payment practices and is paying invoices more consistently within the agreed terms.
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Mar 2021 - 31 Aug 2021 | 30 Sept 2021 | |||||
| 01 Sept 2020 - 28 Feb 2021 | 06 Apr 2021 | 11 | 100% | 0% | 0% | 9% |
| 01 Mar 2020 - 31 Aug 2020 | 30 Sept 2020 | 16 | 96% | 1% | 3% | 9% |
| 01 Sept 2019 - 29 Feb 2020 | 31 Mar 2020 | 21 | 98% | 2% | 0% | 7% |
| 01 Mar 2019 - 31 Aug 2019 | 04 Dec 2019 | 22 | 93% | 2% | 5% | 16% |
| 01 Sept 2018 - 28 Feb 2019 | 10 Sept 2019 | 30 | 81% | 13% | 6% | 26% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard payment terms for supplier payments range between 0 to 60 days. Supplier payments are made per the agreed terms unless alternative payments arrangements / terms are agreed in advance. Related payment supplier payments are not settled periodically and dealt separately.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
89
All queries are handled by dedicated accounts payables team. If there is a dispute, we would call/email the relevant vendors and follow up with an email to resolve. All queries raised by vendors are usually resolved within 10 working days. There is an escalation matrix which is shared with all vendors. Periodic governance process in place to monitor the performance of the accounts payable team to ensure that queries are resolved timely and satisfactorily, thereby ensuring a build-up of invoices on hold is avoided and vendors are paid accurately.
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
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Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
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Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
COMCAB (LONDON) LTD is a transportation company based in London, UK. They provide a range of services including taxi, private hire, and courier services.
The company places a strong emphasis on sustainability and has implemented various initiatives to reduce their carbon footprint. They have a fleet of hybrid and electric vehicles, and also offer a carbon offsetting program for customers who wish to make their journey carbon neutral.
COMCAB (LONDON) LTD offers a variety of products and services to cater to different needs. They have a dedicated app for customers to book and track their journeys, as well as a corporate account service for businesses. They also have a 24/7 call center for booking enquiries.
The key people at COMCAB (LONDON) LTD include their managing director, David Brown, who has over 30 years of experience in the transportation industry. They also have a team of experienced and trained drivers who prioritize customer safety and satisfaction.
For more information, customers can visit their website at www.comcablondon.com or contact their registered office at 15-17 Carburton St, London, W1W 5DS. COMCAB (LONDON) LTD is committed to providing sustainable and efficient transportation solutions while delivering excellent customer service.